Persimmon expects higher profits as help-to-buy props up prices

Housebuilder is one of the biggest beneficiaries of the taxpayer-funded scheme

Persimmon has upgraded its profit forecast after building more homes and increasing its prices, with the support of the government’s help-to-buy scheme.

Britain’s second-biggest housebuilder reported a 4% rise in revenues to £3.74bn in 2018, after completing 406 more homes than a year earlier, increasing the total by 3% to 16,449. Its average selling price rose by 1% to £215,560. The company said the housing market was underpinned by robust employment levels, low interest rates and competitive mortgages.

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from Property | The Guardian http://bit.ly/2FygRq5
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